Ethena Labs USDe Token Redemption Plan
Ethena Labs has recently shared information regarding a redemption plan for individuals holding USDe tokens, via a post on the X platform. Token holders interested in redeeming their USDe will need to complete an electronic application form. The required information includes:
- Personal details such as full name, address, and a contact email or phone number.
- The specific public blockchain address or wallet ID where the USDe tokens are stored, along with the total number of USDe tokens owned (this includes any tokens held across multiple wallets).
Proof of USDe Holdings
Owners must provide proof of their USDe holdings, which can be submitted in various forms:
- A screenshot displaying the wallet balance and corresponding public blockchain address.
- A signed message from a wallet that holds USDe tokens, explicitly stating the intent to request redemption (for instance, the message could be:
“I am submitting a USDe redemption request to Ethena GmbH”
), and must include the relevant public blockchain address and signature.
- An account statement in PDF or CSV format from the custodian provider, which demonstrates the USDe balance and identifies the account (this could be via account ID, username, or customer reference).
Payment Address and Confirmation
Additionally, applicants need to provide a payment public blockchain address; this could either be the same address currently holding the USDe tokens or another address tied to the same wallet or custodian account.
Once the redemption application passes the KYC/AML review process, applicants will receive a confirmation email from Ethena. This email will detail the specific wallet address to which the USDe tokens should be transferred. After the transfer has been verified, Ethena will promptly transfer USDC to the indicated payment address.
